Thai Airways board selects 8 new directors for AGM vote, confirms all professionals
Thai Airways’ board-nomination committee has shortlisted eight professional directors for approval at the December AGM. No civil servants are included, ensuring expertise and independence for the airline’s governance.
Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance and Chairman of the Board of Thai Airways International Public Company Limited (THAI), revealed updates on the airline’s board restructuring, confirming that the eight new directors proposed by the nomination committee will be all professionals, with no civil servants included. The board aims to select the most qualified candidates to strengthen Thai Airways’ governance.
He explained that the nomination process follows the standards for listed companies, with October 19, 2025 marking the deadline for shareholders holding more than 5% of shares to submit director nominations. The nomination committee met today (October 21) to select eight candidates based on multiple criteria, including suitability and potential conflicts of interest.
Once the committee finalises the list, it will be submitted to the Thai Airways board on October 23, 2025. If the board approves, the names will be presented to shareholders for election at the annual general meeting (AGM) in December.
One key agenda item for the October 23 board meeting is increasing the number of directors from 11 to 15. Three directors will complete their terms, and one will leave by lottery, according to the rules of the Stock Exchange of Thailand. The eight new directors will be proposed for board approval and then to the AGM.
On the topic of aircraft procurement, Lavaron highlighted concerns about delays and investment decisions. He emphasised that major investments, particularly aircraft leasing plans worth tens of billions of baht, must be carefully studied, balancing speed with comprehensive data. The board must have clear answers from management before voting.
He added that aircraft selection must align with Thai Airways’ strategic plan, limiting the types of aircraft to reduce past operational losses. “Leased aircraft are used for at least six years, not just one or two. Bringing in older aircraft would require significant refurbishment costs,” he said.
Currently, the executive board is reviewing post-COVID business status to determine the optimal number and types of aircraft for Thai Airways, with all processes carried out transparently.
Lavaron noted that differing opinions in the boardroom are normal and healthy for achieving the best solutions, but disagreements should remain internal. Recent public reports and images of conflicts over the past 2-3 weeks have undermined confidence, reflected in Thai Airways’ share price falling to 10 baht from 14-15 baht.
